JPMorgan Chase & Co. Cuts CCC Intelligent Solutions (NYSE:CCCS) Price Target to $13.00

CCC Intelligent Solutions (NYSE:CCCS) had its price objective cut by JPMorgan Chase & Co. from $14.00 to $13.00 in a report released on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently weighed in on the company. Jefferies Financial Group decreased their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Barrington Research reissued an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday. Bank of America initiated coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Barclays reduced their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.56.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock opened at $10.47 on Tuesday. The stock has a 50-day moving average price of $10.83 and a two-hundred day moving average price of $11.00. CCC Intelligent Solutions has a 12 month low of $9.79 and a 12 month high of $12.68. The company has a market capitalization of $6.55 billion, a PE ratio of 523.76, a P/E/G ratio of 6.15 and a beta of 0.62. The company has a current ratio of 3.19, a quick ratio of 2.79 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. During the same quarter last year, the business earned $0.03 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts expect that CCC Intelligent Solutions will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other news, insider John Page Goodson sold 45,560 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total transaction of $459,244.80. Following the completion of the sale, the insider now owns 87,892 shares of the company’s stock, valued at $885,951.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider John Page Goodson sold 45,560 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total transaction of $459,244.80. Following the transaction, the insider now directly owns 87,892 shares of the company’s stock, valued at $885,951.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Jo Prigge sold 38,816 shares of CCC Intelligent Solutions stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $10.25, for a total transaction of $397,864.00. Following the completion of the sale, the insider now directly owns 97,268 shares of the company’s stock, valued at approximately $996,997. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,323 shares of company stock worth $2,157,354. 6.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. raised its position in shares of CCC Intelligent Solutions by 68.6% during the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after purchasing an additional 1,135 shares during the period. CWM LLC lifted its stake in shares of CCC Intelligent Solutions by 352.6% in the second quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after buying an additional 2,419 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of CCC Intelligent Solutions during the first quarter valued at about $53,000. Quarry LP increased its position in shares of CCC Intelligent Solutions by 304.0% during the second quarter. Quarry LP now owns 11,219 shares of the company’s stock worth $125,000 after acquiring an additional 8,442 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of CCC Intelligent Solutions by 15.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after acquiring an additional 1,564 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

About CCC Intelligent Solutions

CCC Intelligent Solutions Holdings Inc, operates as a software as a service company for the property and casualty insurance economy in the United States and China. The company's cloud-based software as a service platform connects trading partners, facilitates commerce, and supports mission-critical, artificial intelligence enabled digital workflow across the insurance economy, including insurers, repairers, automakers, parts suppliers, lenders and more.